Han Myung-jin, Head of Investment Support Center at SK Square, an investment company of SK Group (pictured), has been appointed as the new CEO of SK Square. Following the group's ongoing 'rebalancing' policy, the company's future management strategy is expected to undergo adjustments.
According to industry sources on the 4th, Han is scheduled to be appointed as an inside director and CEO through an extraordinary general meeting of shareholders and a board meeting on the 14th of next month. Han is reportedly entrusted with the important task of growing the company into a semiconductor-focused investment firm within a few years.
Earlier, during the earnings announcement in February, he stated, "We will strengthen the identity of a semiconductor-centered investment company through investments in the upstream and downstream areas of the semiconductor value chain."
In fact, SK Square is known to be realizing investment results in semiconductor materials, parts, and equipment companies in Japan and the United States through its overseas semiconductor investment corporation, 'TGC Square.' This company was established last year with about 100 billion KRW jointly invested by SK Square, SK Hynix, Shinhan Financial Group, LIG Nex1, and others.
Accordingly, SK Square, holding approximately 1 trillion KRW in cash, is expected to make large-scale investments in domestic and foreign semiconductor companies in line with the group-level strategy that regards semiconductors as a growth engine.
However, considering that SK Square posted losses in the 2 trillion KRW range last year in other investment companies excluding semiconductors, it is likely to pursue a 'value enhancement' strategy primarily through profitability improvement.
After strengthening profitability, a 'selection and concentration' strategy through integration and divestment is expected to follow. Content Wave is expected to continue pursuing a merger with CJ Group's TVING, while also moving to dispose of its stake in 'WUTI,' a joint taxi business with Uber that is running at a loss.
Additionally, following the sale of SK Shieldus and SK Planet stakes last year, the sale of 11st is also expected to accelerate. An SK Square official stated, "We will enhance the profitability of the portfolio companies, which number over 20, to increase corporate value."
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